SOCAR approves offshore Oil Rocks field development program
Azerbaijan, Baku, March 31 / Trend, E. Ismayilov /
The State Oil Company of Azerbaijan (SOCAR) has approved a program to maintain production volumes at the Oil Rocks field in the Azerbaijani sector of the Caspian Sea, a source in SOCAR said. The new program has been prepared by the Oil and Gas Production Department Oil Rocks, it should cover 2011-2015.
According to the source the program has already been approved and will be implemented this year. It envisages the drilling 70-80 of new wells, cresting appropriate underwater infrastructure, a gas collecting system and other activities.
The source added that one of the main directions of the program is the construction of new platforms to maintain production level at the Oil Rocks field and "Mud Volcano", which are on the balance of the Oil and Gas Production Department.
The program envisages the achievement and maintenance of production volume at the level of 2,500 tons per day at two fields, which constitutes 915,000 tons year on year. As of 2009, crude oil production exceeded 800,000 tons per year. The source did not name the volume of oil production at present time.
As SOCAR head Rovnag Abdullayev said earlier, one of the company's goals for 2011 is the construction of new platforms and the repair of existing ones as well as laying pipelines and drilling new wells in offshore fields Guneshli and Oil Rocks.
According to SOCAR data, the residual recoverable oil and gas reserves of the Oily Rocks field exceed 182 million tons of oil. The volume of geological reserves of the field is equal to 365 million tons. In accordance with the existing project, the development of Oily Rocks is scheduled to be completed in 2035.